Nokia’s quarterly profit beats on 5G demand

2022.04.28 08:23

FILE PHOTO: A Nokia logo is seen at company’s headquarters in Espoo, Finland, May 5, 2017. REUTERS/Ints Kalnins

STOCKHOLM (Reuters) – Telecom equipment maker Nokia (NYSE:NOK) reported stronger-than-expected quarterly operating profit on Thursday helped by higher demand for 5G gear despite supply chain constraints.

First-quarter comparable operating profit rose to 583 million euros ($613 million) from 551 million last year, beating the 513 million euro mean forecast of eleven analysts polled by Refinitiv.

($1 = 0.9509 euros)

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